Air China Limited Stock Forecast
Green day on Friday for Air China Limited
(Updated on Jun 21, 2024)
The Air China Limited stock price gained 0.137% on the last trading day (Friday, 21st Jun 2024), rising from $7.29 to $7.30. During the last trading day the stock fluctuated 1.38% from a day low at $7.25 to a day high of $7.35. The price has fallen in 5 of the last 10 days and is down by -1.88% for this period. Volume fell on the last day by -411 thousand shares and in total, 30 million shares were bought and sold for approximately $219.99 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $7.29 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 2.82% during the next 3 months and, with a 90% probability hold a price between $7.50 and $8.09 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
601111.SS Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 20, 2024, and so far it has risen 0.137%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Air China Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $7.37 and $7.44. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Air China Limited stock
Air China Limited finds support from accumulated volume at $7.29 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.1000 between high and low, or 1.38%. For the last week the stock has had daily average volatility of 1.54%.
Our recommended stop-loss: $6.88 (-5.76%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 21 days ago.)
Trading Expectations (601111.SS) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Air China Limited to open at $7.30, and during the day (based on 14 day Average True Range), to move between $7.16 and $7.44, which gives a possible trading interval of +/-$0.143 (+/-1.96%) up or down from last closing price. If Air China Limited takes out the full calculated possible swing range there will be an estimated 3.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $7.29 (0.14%) than the resistance at $7.38 (1.10%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Air China Limited stock A Buy?
Air China Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.455 Hold/Accumulate Unchanged
Predicted Opening Price for Air China Limited of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $7.30 ( 0%) | $7.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 601111.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.40 | 1.37% |
| R2 | 7.36 | 0.85% |
| R1 | 7.34 | 0.523% |
| Price | 7.30 | |
| S1 | 7.26 | -0.523% |
| S2 | 7.24 | -0.85% |
| S3 | 7.20 | -1.37% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.41 | 1.51% |
| R2 | 7.39 | 1.23% |
| R1 | 7.38 | 1.10% |
| Price | 7.30 | |
| S1 | 7.29 | -0.137% |
| S2 | 7.20 | -1.37% |
| S3 | 7.09 | -2.88% |
601111 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 16, 2020 | Jul 16, 2020 | Jul 16, 2020 | $0.0444 | 0.629% |
| 2 | Jul 11, 2019 | Jul 11, 2019 | Jul 11, 2019 | $0.103 | 1.13% |
| 3 | Jul 04, 2018 | Jul 04, 2018 | Jul 04, 2018 | $0.115 | 1.42% |
| 4 | Jul 07, 2017 | Jul 07, 2017 | Jul 07, 2017 | $0.108 | 1.13% |
| 5 | Jun 30, 2016 | Jun 30, 2016 | Jun 30, 2016 | $0.107 | 1.58% |
FAQ
Click here for our free guide on how to buy Air China Limited Stock.
